Business Requirements

This article outlines the requirements that must be met to successfully onboard a business EPC to the BVNK platform.

To onboard a business Enterprise Payment Customer onto our platform, we must collect and verify essential information regarding the business and its ownership. This is a regulatory requirement and a critical component of our risk management process.

The onboarding process typically involves a collaborative review by our Compliance and Onboarding teams to ensure full adherence to Know Your Business (KYB) standards.

The documentation and data we collect are categorized as follows:

  • Baseline requirements.
    These apply to all business customers, regardless of their industry or vertical.
  • Vertical-specific requirements.
    Additional documentation or information may be required based on the customer’s specific industry or risk profile.

Baseline Requirements

All documents must be provided via the POST customers/{customerReference}/documents endpoint or via the Portal (if applicable).

The following requirements apply to all Business customers:

Company Data

  • Legal Entity name
  • Legal Entity Registration Number
  • Legal Entity Type
  • Legal Entity Country of Incorporation
  • Legal Entity Registration number (EIN/TIN for US)
  • Legal Entity Industry
  • Legal Entity Registered address
  • Legal Entity Operating address (if applicable)

Company Associated parties (associates)

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At least one Representative, UBO, and Director must be specified. The same person can share multiple roles.

  • Title (REPRESENTATIVE / UBO / DIRECTOR)
  • First name (include middle Name(s) as well)
  • Last name
  • Date of birth
  • Nationality
  • Address details
  • Email contact
  • SSN / ITIN (U.S. only)
  • ID Document (Non-U.S.)
    • Document Type
    • Unique Number
    • Expiration Date
    • Issuing Country

Supported document types and subtypes

The following TypeandSubType fields are supported for Business verification:

TypeSubTypeDescription
COMPANY_DOCDIRECTORS_REGISTRYDirectors registry.
COMPANY_DOCINCORPORATION_ARTICLESMemorandum/articles of incorporation/association/registration.
COMPANY_DOCINCORPORATION_CERTCertificate of incorporation/registration.
POWER_OF_ATTORNEYPOWER_OF_ATTORNEYPower of attorney.
COMPANY_DOCPROOF_OF_ADDRESSProof of address (e.g., utility bill, rent contract).
COMPANY_DOCSHAREHOLDER_REGISTRYShareholder registry.
TRANSPARENCY_REGISTRY_EXTRACTSTATE_REGISTRYRecent excerpt from a state company registry.
COMPANY_DOCOTHERDocument subtype for cases not listed above.

Vertical-specific requirements

Vertical or Industry-specific requirements include the following:

TypeSubTypeDescription
COMPANY_DOCOTHERDocument type and subtype for all the cases listed below.
  • AML Policy
  • FCA registration evidence (if UK-based)
  • Sample customer transaction monitoring logs

Enhanced Due Diligence (EDD)

The following Enhanced Due Diligence (EDD) checks are triggered for high-risk jurisdictions, industries, or adverse media hits:

  • Independent audit letter
  • Legal opinion on structure (if complex)
  • Ongoing monitoring procedures